GTA REALTORS® Release Monthly Resale Housing Market Figures

TORONTO, ONTARIO--(Marketwired - Feb. 3, 2017) - Toronto Real Estate Board President Larry Cerqua announced that Greater Toronto Area REALTORS® reported 5,188 residential transactions through TREB's MLS® System in January 2017. This result was up by 11.8 per cent compared to 4,640 sales reported in January 2016. Annual rates of sales growth were higher for condominium apartments than for low-rise home types.

January 2017 picked up where 2016 left off: sales were up on a year-over-year basis while the number of new listings was down by double-digit annual rates for most major home types.

"Home ownership continues to be a great investment and remains very important to the majority of GTA households. As we move through 2017, we expect the demand for ownership housing to remain strong, including demand from first-time buyers who, according to a recent Ipsos survey, could account for more than half of transactions this year. However, many of these would-be buyers will have problems finding a home that meets their needs in a market with very little inventory," said Cerqua.

The MLS® Home Price Index (HPI) Composite Benchmark price was up by 21.8 per cent on a year-over-year basis in January. Similarly, over the same period, the average selling price was up by 22.3 per cent to $770,745, with double-digit gains in the average prices for all major home types.

"The number of active listings on TREB's MLS® System at the end of January was essentially half of what was reported as available at the same time last year. That statistic, on its own, tells us that there is a serious supply problem in the GTA - a problem that will continue to play itself out in 2017. The result will be very strong price growth for all home types again this year," said Jason Mercer, TREB's Director of Market Analysis.

Summary of TorontoMLS Sales and Average Price January 1 - 31, 2017
		2017			2016
		Sales	Average Price	New Listings	Sales	Average Price	New Listings
City of Toronto ("416")		1,904	727,928	2,886	1,684	635,702	3,737
Rest of GTA ("905")		3,284	795,569	4,452	2,956	627,055	5,169
GTA		5,188	770,745	7,338	4,640	630,193	8,906
TorontoMLS Sales & Average Price By Home Type January 1 - 31, 2017
		Sales			Average Price
		416	905	Total	416	905	Total
Detached		466	1,795	2,261	1,336,640	999,102	1,068,670
	Yr./Yr. % Change	-5.5%	11.9%	7.8%	26.8%	27.8%	26.3%
Semi-Detached		118	305	423	902,688	661,545	728,814
	Yr./Yr. % Change	-3.3%	-6.7%	-5.8%	26.4%	28.5%	28.1%
Townhouse		183	594	777	658,349	604,263	617,001
	Yr./Yr. % Change	7.6%	7.0%	7.2%	26.1%	27.8%	27.4%
Condo Apartment		1,125	511	1,636	471,409	379,169	442,598
	Yr./Yr. % Change	26.8%	26.5%	26.7%	13.1%	18.5%	14.5%

January 2017 Year-Over-Year Per Cent Change in the MLS® HPI
	Composite (All Types)	Single-Family Detached	Single-Family Attached	Townhouse	Apartment
TREB Total	21.82%	25.32%	22.74%	22.71%	18.70%
Halton Region	22.63%	22.85%	23.54%	21.53%	-
Peel Region	22.66%	23.17%	24.76%	22.58%	20.63%
City of Toronto	16.33%	23.54%	20.41%	21.28%	20.99%
York Region	21.34%	29.03%	26.23%	18.69%	13.89%
Durham Region	26.43%	26.30%	26.16%	35.34%	25.94%
Orangeville	24.80%	24.99%	21.18%	-	-
South Simcoe County1	28.46%	28.16%	29.91%	-	-
Source: Toronto Real Estate Board
1South Simcoe includes Adjala-Tosorontio, Bradford West Gwillimbury, Essa, Innisfil and New Tecumseth

Greater Toronto REALTORS® are passionate about their work. They are governed by a strict Code of Ethics and share a state-of-the-art Multiple Listing Service®. Over 46,000 residential and commercial TREB Members serve consumers in the Greater Toronto Area. TREB is Canada's largest real estate board.

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